What are the responsibilities and job description for the Investor Reporting & Reconciliation Specialist position at Desert Financial Credit Union?
The Investor Reporting & Reconciliation Specialist is responsible for daily and monthly reconciliation of mortgage-related general ledgers and all investor reporting, accounting and reconciliation activities. The Specialist leverages analytical judgment and issue resolution to ensure the accuracy of investor remittances, reconciliations, financial reporting, and overall compliance with investor guidelines.
What you will do here:
General Ledger Reconciliation: Daily reconciliation of mortgage general ledgers to ensure the mortgage servicing system of record stays in balance with the general ledger system. Prepare monthly general ledger reconciliation for the accounting department. Prepare and post general ledger activity for new mortgage loans funded daily ensuring all income and expenses are accounted for and posted to correct cost centers. Complete monthly billing reconciliations and submit invoices for approval. Investigate discrepancies in GL balances and identify root cause of reconciliation variances.
Investor Reporting & Reconciliation: Report daily activity to all investors for each servicing and sub-servicing portfolio; research and resolve exceptions within established deadlines. Perform monthly reconciliation for all investors, including Trial Balance comparison of payment amount, principal balance, and interest rate, along with documenting any shortage or surplus of cash remittances. Post and reconcile all servicing activity related to real estate participation loans. Interpret guidelines and policies for investor reporting and mortgage servicing, making decisions on how to apply them in complex or ambiguous scenarios.
Issue Resolution & Cross-Department Collaboration: Identify, research and resolve outages by working with various departments including Origination, Operations, Secondary Market, and Servicing.
Quality Control & Assurance: Perform quality assurance verification and approve monthly mortgage statement jobs.
System Testing & Validation: Conduct system testing of new releases, including the mortgage servicing software (FICS), the credit union’s core system, and online banking to ensure mortgage payments are posted correctly.
Perform other job-related duties as assigned.
What you will need:
High School Diploma or GED required.
3 years of experience working with Fannie Mae guidelines & requirements required.
3 years of experience in Mortgage Servicing, Mortgage Accounting, and/or Investor Reporting required.
Mortgage lending experience for understanding of payment flows, investor requirements, and escrow administration required.
Problem solving skills are required for researching outages and ensuring timely reconciliation of accounting activities required.
Ability to work under tight deadlines and to meet those deadlines effectively required.
Strong written and verbal communication skills required.
Demonstrate sound judgment and make decisions with minimal supervision in line with department guidelines required.
Ability to maintain strong working relationships with peers and others to achieve objectives required.
Microsoft Office Suite required.
RATA Comply HMDA/CRA Compliance Software preferred.
We are proud to be an EEO/AA employer M/F/D/V. We maintain a drug-free workplace and perform pre-employment substance abuse testing.
For additional information about our organization, careers, and benefits visit: http://www.desertfinancial.com/careers.
